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II anchoring £ell sunk cost fallacy II availability

heuristic mcurse of
knowledge
The first thing you judge influences your You inationaUy cling to things that have already Your judgments are influenced by what Once you understand something you presume

judgment of all that follows. cost you something. springs most easily to mind. it to be obvious to everyone.

Hllmnmnclsare�inn.111:1Ee,so'Cheon:iefnwhicrlwe v.tienweve �tecl cu tme. m:iney,or emoaon i'lto�� it How recent emoticollil/ p:Nffl"flJ. or \TU5UIII Y(llEmemaies arecan �TNl(esseraecn::etheyTNl<esiense,�tcanbetwdto
l TTWO!lhffl"l�mctt�rt. hi:s. l � tan cane&JS<"youtollP\'.lly ttm!IT"t:ewhythey Mlt Wt, tud.o::ffP<!X�M<'.:tksc:J�
�M':iromatian.�de tfflnrl<!'Che COU"lll': cJ rujud� h..tsusto�tgn hi:sa�topan candiitortou.rbett<!<'

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l:hemtoo�adiy .ridID'TQel:howrtrr.llle lhepethtocu al'iliable�real.]y ii.
,.-,dpe ,ceptions ).ld�andcauseustomake�i1'1estrnents.
8e espe,::� rrmdful OIi lhisbiudumg fhw>cW� sui;h To �objectivty, ask) OU"RW: had l not *e* wtl/ftt«I -r..,.togaWl.�tper�end relevvtitatbtlail When teac� KJmeOne a:>methS1Qnew, go slr7Nandexi,1&W\ the
' lnl01TMtion raehef than rdyinQ p.ae\y on l'rlljudgments and lhey'l'eten�1old(whhou.t ben;P11ooruh;l).Repeatkeypoint1
as houses.cars.and salaries.1lle nitlal � Ol'b'ed iiP'OYffl to � would I still do soraw?Whlll. v«lllld ICOY"lSel a l'l'iend
haveaslgniflcs-.:enect. todo'tlheywe..,nthe...,..,.,lilul!tion? emotivelnlluences and.faclule lldM! pn,,ctia, to �tp embed knovMdge.

:ou._r:::�r:=�:=�:=:s:�
ft c9nfirmation
Ub1as
ft dunning-kruger
la effect belief bias ft self-serving
liilbias
The more you l<now, the less confident If a conclusion supports your existing beliefs, You believe your faihlres are due to external factors,
you're likely to be. you1l rationalize anythirq that supports i t . yet you're personally responsible for yotr success es .
andto�,.-,ddisrnssrlbrrnati<;T,thatoonllr;tswthtt-n ��kroNjusthowTT'l,d\�d:::nll<n:lw.tho!ytend lt' s dtf\aitg..atoif'taMiecuenstng�ffltoccnsidttth!,­ Many ofusmjoyunearned p!ivi�ges. UCXand.advan� thal
Thrlkol )Q1I'Ideas and beliefs as sottw•e you're actlYdy Dyi'vJIO to�stmlltelhe'r!lblfy;tut:'s easytobec,,,er� mertsofan�t.hp,actkett-.smeansi:t.ato.rideasbeo:lrne othersdor ot . l's easytoteOa.nel.....sthatwe de5"fl'e these t�

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tn:l.�withratheflhanlh�tobediihnded. 'Mllmyou�crtya�ideac:Jhowttr,gsae �tocmcisnsll11tt�tually�Won:M whilst blarrn;J cro.lTISl�whenh-qsdxlt rpou.rwsy.

"Thef1m�hthatyoomustnotloolyi:vS('W-myoue,e "ThewholeprotianwththcwondlsthlltloolJandfll'lllllclare Ausefl.ll thnJto GM ls�and hoWdicl I !1et thisbelief?' WhenJudgln;j others. be mndl'ul ol hoWthisbwlsttcmct1
theeasiestpenonlOlocl' so�olthemse!Yes,yet�pe<JPl!sotuloldou.bu." We tSld to automatlcallydelendQ0.11' ldees withoo.t ev� really withthe _jl,lst·w:,rid �funclamental attr ibution 1111'0!',

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-Rid\.vdFeynrr-,_ ·Bel'U'andRussel questioning them and lhe h-qroup bias.

backfire effect • bamum effect C3 groupthink negativity bias


When your core beliefs are challenged. it can cause You see personal specifics in vague statements You let the social dynamics of a group situation You anow negative things to disproportionately
you to believe e...en more stmngly. by fillng in the gaps. O'JelTide the best outcomes. influence your thinking.
Wfl. ain� taig wic:ng abculSOffll! idolas asan 111\ad<. 1.por10UT �cu IT'irdl •a �to�cornaclicnl.rt's �nybus DisSIMlt Ca'\be� in:!�to�·s K:lcial stMICfno;I. �PUlc:Jlo:!5.rldtutet<!c�m:n-�a"ldpmislffitlylhlnlhe
� selws .o.- D.Jrtfbti ilentity.This can ....dtorrctWiHd�h;i totai<un<bbJs�anil'hiwaysto.-mp,,,1.tharn'iOlhat and,ocitenlhe=tccnficlentOf!Tst;tioewldetemine tleetng�r:JJjeasant�W..ae,:,rmedb'SlM\lal..rld

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v.n;:t\c.tUSIQ5USIO�-ck>wn(»1PtQdsc:ool'I'�� th.y�si»dhclnlp,;ncm. grcupdecimu. o.r..-saltipainCa'l�as�fO'arnc:idemWO!lcl.

'ltalritwhat)Qldon'tlcnowthatqelb)'Ollr.(Otrouble.k'lwhat)"0'1 flsychk:s.astrolcqasand otMnu•lhl1 btastomakeltNemlike Ralhefthanoperly oontradicthgotller1,ledc to fac:ittate Pro-and-con lists.aswen as th!nkno in termsdprobabltitle1,
le'K:wb'1Vathatjultatn1so." tlwy'l'otolling)'C'.lsomathtngNl<IYar&.c:a-mdoftwowlhlng1 ""9ht objuttve mean s ol evaluation end crtic:a1 thlnkng praclk:n can hetpyou. evah.iate lhlrqlffl01'e objectNely than relying on
-Marlt'lw.. beirurp"eted to2R'tYtoanyona.notj1,1sl;you. asagr�activit,< acog ni!MWT\presllon.

lldeclinism
You Temember the past as better than it was, and
Iii framing effect
You allow yourself to be unduly influenced by
ffl fundamental
U attribution error
You judge othen on their charactet', but you.rgelf
•-f halo effect
How much you like someone, or how attractiw
optimism bias
You o.,erestimate the likelihood of
pessimism bias
YouOll'ef'estimate the likelihood of
eXpect the future to beWOf'Se than it will likely be. oontext ard delivery. on the situation. they are, influences your other judgments of them. positiw outcomes. negative outcomes.

Despite�ri t�mcmpe�and� � n Hstory , Wf!«l!keto�k1hatwe1hrilcr.dependently,Wthetruthi:s&-atal r you haven't h&d. a '1C"Jd rq't's sie,.,p ,you kroN 'Ml/you� t,e;rv.ia 0...�1tt�end!ll.ltunatic.an:lso�wew.,n1tobe ll>ereciribebenef\1s toaposi,Matitude,but it' s un...;.seto._ ��i:s.ottl!cna���t�crit
manypeq:iebelieveh'IQ5sec;1etmc;1wone.The24holne'WS c:Jus�. infact. i'll'l.ien::rcl� �- fla�and!lb:le cue bil. XHl;but iiyou� scmeone elseberq 51owyoud:::n't ha11e �-�cltoo:nsciouslyc:cntrolfOfmievanli'll'l.ien::rs. suct\Slatti�toadl/lmely�otlabtt)o'to�llllionlll. can belhe�r:J�andaruetydisorders.

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�.wilhits�rv;iof,:,.,mly��and�t�mi,y Thi:s i:swhy � .sdhdustry i:sa lhh}. de,ple alrrost e-:,-one strn�an:l'i0""'1,�tt-nto).JStbea�� 'Tlui:s.e��IT\a�...t!rq. �ts(�nolrTtlullily�) �� the w:,rst aipect ol pemmism b lhal e"""' llsornelh�
11CCD.1N;fasomeoflhiseffect. believngthey'renollltfectedt,/advenimq�
ft'1notont,,khdtovlew�' 1itulltlon1wi1hc:hllrty,lt'1 more It you notice that you're (llvT,; oonslstently high a, low markl -.youffllll<eratlcnal.realtsticjudgrnerayou,hawakllmoreto good happens,you. 11 probabl.y feel pessmtstic about It lfftWtlY .
lns�ofrelys,gonnoJtal9icimpresslons o l howi,rutlh.-,gsused Only whenwehave the intellectual humtity lo KCept the lac:t lhat oojectlYe loo. 8e mh:tl'ul 10 aboffl' on lhe 1lcledlllkhgpenonlli ac:rou!he bo«d. il'sworth cONidenng lhat )'Ol,lr jud;Jment may lee\po,simoeabow.

II
tobeuseme1HtnblemetrlcslUChaslke,q:,ectancy.lewlsolmne we can be ITW\lp.11ated.can we hope to limit howtnJCh wea r e . respons!blityrather lhln)Js�anclblaJTrl9. belUtlerlngfl'Omlhehaloeffect.
and� ardprospetey ,tatistb. Trytobemhdl'u.1 olhl7N thhpare being puttoyou.

ftjust world in-group bias placebo effect Ill bystander l!Jreactance spotlight effect
- hypothesis Iii effect
�­
Your preference for a just wa-ld makes you You unfairly favor those who belong to your group. If you believe you' r e taking medicine it can You presume someone else is going to do You'd rather do the opposite r:A what someone is You OYerestimate how much p eople notice how
presume that it exists. Wf!p,,ewmeth!!twe'refaTtnd�tuthet:ruthi:sltw. sometimes ' work' even if it's fake. somethirq in an emergency situation. trying to make you do. you lool<and act
we111Jtcfn.!iiclily 111-.a-those Y<roaremostlke us, Of belongto l
A v.atl h v.tidlpeqE obilltweysget vmalthey� twdwcrlr. hepacetx:lcfb:tcanw.'.111:bsU'llh!lcurrh:ltnzn:cs(ut,m Whenunetllhqterrtieis�hqr\4µ.bttsettinq�C.411 ��leelasltcrtyisbm;J cOOSIR!Rd.cuh:rdm iitorczl. �pcqr111emrllmaean:rrrm !ll:oi �amtheyire
doesnl4'wayspey<:tf,8'ld��isan1.0:�cne P"h)Wrci,orn,chbh-Qs"evru9eSOftocilerlbcre. e�akndd710do:andrner'tap,11ral:ym1hltdistnicts us!,,:;m �nocr,gsoweca'I=� «xllt )O.l.llbsert��),.dce� peq,le�wet1tto[Joe!IJld
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IMl.ttvmtensour��-�.il.isi!bo'Che�ality. T r y t o imagn)'OW3"1fW\lhepositiondthoseW\out�whlbt a'lel"ISe cl pencnlli responst:,ilty .heprotjem isltw.el'efY!)ne can getalcngW:1hyouasit�lhem�too.
Homeopathy.�IWl!.end manyoO'lff lllrm1dnatlnl 8e cattrul notto lose otitectMtYWMn someone I s being
allo attempti",g10 bedispassionMewhenjudglng those who belong e�this.........,of�lnac,owd.
A morejult worid requirn�••� then blame 'medicft'hll',,ebeen�tobenomore effecthlethanplacebo coerci�laUve,or tryingtolorce you d o somethi",g. lmtead ol wonyi",g about how you� benQ�consider how
Remember thal�t\as lherONntft Story; IW'fe Ill fa!ti:lle, toyoish-grcups. Keiepa healll'(ybodyandlllril.bmancet,julhgevicience-baled It!hen:' 1 anfl'M1'9fflCY lltuMion.presune to be lhe one whowil l Whdomsprings fromrefteclion. folly from reaction. you. make ott\er1fttl. They'll remember this much more end you.'U
and bad lhs,gs happento!J00d p,!Ope rnedkh!, lrcmaqu,,l&d doc:D'. helpOfcalllDrhelp.Be lhec;t,m,geyou.-,am...,n1tie--'li make the world • bet� plaa,

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